Rubbish. Tell this to folks that hold stocks long term with stops being at 0. As long as a signal remains valid (reason for being either long or short) and you can afford the loss there are no issues. Whenever I see this signal (bearish or bullish) I am willing to commit more $$$.
Surf Report
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Rubbish. Tell this to folks that hold stocks long term with stops being at 0. As long as a signal remains valid (reason for being either long or short) and you can afford the loss there are no issues. Whenever I see this signal (bearish or bullish) I am willing to commit more $$$.
Three day trades I took this morn. Two in the naz. One in the ES. Lost 2 points on first trade in Naz, Second trade in Naz +8.5 pts. Initial risk 2 points. But, no actual risk as it never went against me after entry. RR 8.5:0
In the ES Plus 4 points. Initial risk 1 point. No actual risk as it never went against me after entry. RR 4:0
Again, all three trades are simply shorting PB's towards the 20 EMA WHEN price is trading below BOTH the 89 SMA and the 20 EMA. I just look for short entries. Pull the trigger ...set a tight stop... grab what the market gives me...if it runs abit I let it run. I try to pick entries where I think I can place a tight stop. If I get stopped out like on the Naz but minutes later I see I had the direction correct I will just enter again. Unless just in some chop it is rare to get 3 or 4 losses in a row. If trading in chop ..which I will do I scalp with very small scalps. I try to watch my RR and try to take trades with decent probability of success. We all play in a game of probability. Nothing is certain EXCEPT that we will have winners and losers. To succeed our average winners have to be more than our average losers. And it doesn't hurt to have a high win rate. Anyway, that is how I beat the machines. Back to remodeling the house....Looks like a good day for trading. Too bad I just can't trade all day today. Simple PA on 5 minute charts.
In the ES Plus 4 points. Initial risk 1 point. No actual risk as it never went against me after entry. RR 4:0
Again, all three trades are simply shorting PB's towards the 20 EMA WHEN price is trading below BOTH the 89 SMA and the 20 EMA. I just look for short entries. Pull the trigger ...set a tight stop... grab what the market gives me...if it runs abit I let it run. I try to pick entries where I think I can place a tight stop. If I get stopped out like on the Naz but minutes later I see I had the direction correct I will just enter again. Unless just in some chop it is rare to get 3 or 4 losses in a row. If trading in chop ..which I will do I scalp with very small scalps. I try to watch my RR and try to take trades with decent probability of success. We all play in a game of probability. Nothing is certain EXCEPT that we will have winners and losers. To succeed our average winners have to be more than our average losers. And it doesn't hurt to have a high win rate. Anyway, that is how I beat the machines. Back to remodeling the house....Looks like a good day for trading. Too bad I just can't trade all day today. Simple PA on 5 minute charts.
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May I ask you a question? Does the market have any respect for you?
I will do that in the original dragon thread, and it was the NDX daily chart I used. I don't want to take Surf's pageviews away, but I just had to rub it in since he is so anti-TA.
For the record I have been bearish since Trump's state of the union speech rally, but you have to give it time before the market rolls over. And when TA tells you it keeps going higher, then you better listen to it...
where is this dragon thread?I will do that in the original dragon thread, and it was the NDX daily chart I used. I don't want to take Surf's pageviews away, but I just had to rub it in since he is so anti-TA.
For the record I have been bearish since Trump's state of the union speech rally, but you have to give it time before the market rolls over. And when TA tells you it keeps going higher, then you better listen to it...
Remember the Thriller in Manila and the Rumble in the Jungle? Ah Howard Cosell and Ali...two peas in the same pod...those were the days...
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